The 9th meeting of the Kazakh-Israeli Intergovernmental Commission on Trade and Economic Cooperation was held

The 9th meeting of the Kazakh-Israeli Intergovernmental Commission on Trade and Economic Cooperation was held in Nur-Sultan.

The co–chairs of the IPC on the Kazakh side are Deputy Prime Minister of the Republic of Kazakhstan - Minister of Trade and Integration Bakhyt Sultanov, on the Israeli side - Minister of Tourism of the State of Israel Yoel Razvozov.

The meeting was attended by members of the commission and representatives of ministries and departments of the two countries.

The sides discussed issues of cooperation in the field of trade and economic cooperation, in the field of healthcare, agriculture, renewable energy and water resources, tourism, etc.

During the meeting, Bakhyt Sultanov noted that Israel is one of the important trading partners of our country and Kazakhstan attaches great importance to the development and diversification of bilateral trade. It should be noted that this year the countries celebrate the 30th anniversary of the establishment of diplomatic relations.

"According to our calculations, in the future, Kazakh companies are ready to supply 70 processed goods of various industries worth $ 360.7 million to the Israeli market, metallurgical, food, machine-building, chemical, as well as vehicles and construction goods," Bakhyt Sultanov said.

For reference:

The volume of trade turnover between Kazakhstan and Israel in January-March 2022 amounted to 201.3 million US dollars, an increase of 4.1 times compared to the same period in 2021 (48.9 million US dollars).

There has also been an increased interest in Kazakh food products from Israeli retailers, namely confectionery. At the same time, Israeli companies are ready to expand the import line of goods and are currently working on organizing the delivery of Kazakh pasta and soft drinks to the shelves of large Israeli supermarkets.

During the meeting, Bakhyt Sultanov invited Israeli investors to actively invest in joint projects on the territory of the International Center for Cross-Border Cooperation "Khorgos", which will also facilitate the access of Israeli business to the consumer markets of the Eurasian Economic Union.

"ICBC Khorgos is a complex of economic, industrial, tourist and cultural cooperation, which is a unique cross-border zone on the border of Kazakhstan and China. In this regard, I would like to note that we are reviewing approaches to the further activities of ICBC Khorgos with an emphasis on the development of processing capacities, industrial cooperation and the global supply chain. We invite Israeli government agencies and businesses to study in detail all the possibilities of cooperation within this zone," the Deputy Prime Minister said.

Upon completion of the Commission's work, the Parties expressed satisfaction with its results and agreed to hold the tenth meeting of the Commission in Jerusalem. The dates of the tenth meeting will be agreed through diplomatic channels.